Bitcoin prices have fallen a little over 2.5% (about $12) in the last 24 hours, seemingly due to a false report that Chinese authorities were on the verge of blocking all bitcoin transactions starting April 15. The claim, published on China’s equivalent of Twitter, Sina Weibo, has since been retracted. According to a translation published…
Thanks to a new withdrawal system recently announced by BTC-e, one of the biggest roadblocks to mainstream bitcoin adoption may soon be a thing of the past. Starting today, BTC-e customers can withdraw their funds to any country in the world through their Visa or MasterCard. This development has huge implications for the bitcoin community….
In a media release posted late yesterday evening on the Mt.Gox website, the bankrupt bitcoin exchange announced that it had recovered “199,999.99” BTC from an “old format” wallet. According to the statement, the discovery was made on March 7 during an audit as part of their bankruptcy proceeding. The recovered bitcoins are worth $114 million…
This week, Coinbase announced the addition of two new staffers, both with impressive tech pedigrees. Former Facebook security director Ryan McGeehan will move to a security role at the bitcoin startup, while former Amazon business development and sales director Todd Edebohls joins the company as a VP of business development. From a business perspective, both…
In a report published on Yahoo News’s Japan section, Mt.Gox has recovered nearly 200,000 BTC from a “lost” wallet dating back to 2011. The company’s lawyers claim that Mt.Gox found the wallet on March 7 during an internal investigation following their declaration of bankruptcy on Feb. 28. Few details about the recovery have been released,…
It’s no surprise that more banking-related industries take such a critical, or even hostile stance towards bitcoin. By its very nature, bitcoin and other cryptocurrencies cut banks completely out of the loop and undermine their entire business model. From the banking world’s perspective, bitcoin is a completely disruptive innovation. From the perspective of the ATM…
There has never been a currency as inherently transparent as bitcoin. Anyone who feels so inclined can download the entire block chain (about 16GB at the moment) and sort through every transaction ever made. But when transactions happen in off-chain transactions, which is almost always the case at an exchange or online wallet, it becomes…
As the Chairman and CIO of Legg Mason Capital Management, Bill Miller is used to thinking big. His company manages an estimated $695 billion in assets, making it one of the top 20 investment management groups in the world. Miller is very much an insider in the world of high finance, and the kind of…
As the major exchanges ramp up their security efforts in response to the transaction malleability attacks that took down Mt.Gox, several smaller exchanges with less development resources have found themselves targeted. The most recent case involves CoinEX.pw, based (for tax purposes, at least) in the Pacific island nation of Palau. CoinEX is a small exchange…
Atlanta-based bitcoin payment processing company BitPay announced today that it will expand operations with new offices in New York and San Francisco. The company’s physical expansion into new markets has long been expected, and both cities are logical choices for new offices. San Francisco is a huge tech hub and home to many venture capital…